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Re: MAE - Marion Energy

Well it is halted for news. Anyone still owns Marion?? Seems everyone has been interested in exiting. Big mistake IMHO.
 
Re: MAE - Marion Energy

yeah i still hold hoping that the pending placement actually drives down SP so i can pick some more up at a bargin. We'll see what happens, but very promising gas shows.
 
Re: MAE - Marion Energy

The following was announced today.. From my reading of this they expect to have RR 8-19 and the RR 1-30 online & in production in the next month ?



Ridge Runner 1-30 well at Clear Creek, Utah reaches total
depth with strong gas shows.
Marion Energy Limited (ASX: MAE) is pleased to announce the following report with regard to wells being drilled at Clear Creek, Utah.
The Ridge Runner 1-30 well (“RR 1-30”) at Clear Creek, Utah has reached its
planned total deviated depth of 7100 feet. The well was drilled from the same drill pad as the RR 11-20 and the RR 8-19 wells which were shut in while the new well was drilled. During drilling of the well, very strong gas shows were encountered in the Ferron and Mancos (Bluegate) Shale horizons. As such, this well appears to further confirm the significant resource discovered in the previous five Ridge Runner wells and two Alpine School District wells drilled on the Company’s acreage at Clear Creek. Like the RR 8-19, during drilling of the RR 1-30 there was an oil show in the Emory horizon, located at approximately 1800 feet. Testing and further exploration will be required to determine its significance, including drilling a specific well targeting this zone.
It was originally intended to drill one more well from the RR 11-20 pad, but the
Company has decided that a focus on the speedy completion and tie-in of the three wells already drilled at this pad would be more beneficial to Marion, due to the impending onset of the winter season with expected high gas prices. Marion has therefore decided to move the drilling rig to a new location 2 miles south of the Alpine School District wells and will proceed to drill 2 wells from this location. The RR 8-19 and the RR 1-30 are scheduled to be fracture stimulated and completed within the next two weeks. After a cleaning-up period, the three wells on this pad will be put on production as soon as practical. The gathering/pipeline infrastructure for these wells is already in place.
 
Re: MAE - Marion Energy

yeah mate they are looking very good still would like to know who got the shares recently placed. I can't believe how little this company gets talked about on this forum its got so much potential and short to medium term outlook is awesome. The Pato's report that came out a while back said a SP of around $2.40 if everything went to plan, and now it looks like they might exceed those expectations. Word is Patos might have bought a big chunk of the placement.

Wish i held more still cheap i reakon but the placement is prob keeping the sp lower than it could be.
 
Re: MAE - Marion Energy

The RR 8-19 and the RR 1-30 are scheduled to be fracture stimulated and
completed within the next two weeks. After a cleaning-up period, the three wells on this pad will be put on production as soon as practical. The gathering/pipeline infrastructure for these wells is already in place.


Looking forward to an announcement regarding these well coming onto production shortly...
 
Re: MAE - Marion Energy

Just over two million shares traded today which is a reasonable amount for MAE and back up to $1.09 (actually the price where I bought my last parcel thinking this was about to take off) with the increase in volume this afternoon I wouldnt be surprised to see some further info coming out tomorrow or next couple of days regarding completition of the wells and commencement of production..
 
Re: MAE - Marion Energy

Intresting move announced today with the assett swapping I cant see to much wrong here.. I hope they start getting some cash in shortly though..
 
Re: MAE - Marion Energy

Well its been a while now since any news and the anticipated resource upgrade / production ann is overdue.

They should have up to 30 wells on line at the moment and producing going from their previous announcments. If they get good flow rates say 3-5 MCF per day then that could very easily equate to 50+ Mill in revenue PA. Done a few calcs with revenue of $50 M PA there PE is 4 the market average PE is 12-13 So hopefully with good news we could see significant re-rating.

Anyone else following these guys ? There has been alot of suss trading over the last month or so heaps of small parcel buys / sells at small time intervals, not quite sure if it means anything.
 
Re: MAE - Marion Energy

Another Pato report out with buy up to $1.32.

Based on increased reserves, gas prices and verylikely production in short term. They also state it could be much higher. Bring on the good news
 
Re: MAE - Marion Energy

Announcement Today -

• Normal field operations have resumed at the Clear Creek and Helper projects.
• Natural gas plants and compressor stations at Clear Creek and Helper fully
commissioned.
• Gross production and sales volume currently ranging between 3 and 6 million cubic feet of gas per day (and increasing) at a current average sales price of $US10 per mcf.
• On target to achieve a level of 20+ million cubic feet per day from current wells.

Can someone who know abit about gas tell me approximately how much profit would be on $10 per mcf getting the gas out and moved and if tehy are doing 3-6 million cubic feet of gas per day mmcf what this equates to per day in $
 
Re: MAE - Marion Energy

Hey Adobee,

I am relatively new to this sector also (see BCC thread).

My understandings are as follows:

Gas is sold per thousand cubic feet (tcf).

So 6mcf = 6000 tcf.

Price on market is about $10 per tcf. So that means about $60k per day minus costs.

Costs vary a hell of a lot, depending on the well, onshore, offshore, piping, infrastructure etc etc.


Someone else please correct me if im wrong, as i could well be
 
Re: MAE - Marion Energy

They state - $US10 per mcf
Natural gas sales are increasing and have currently reached a combined gross rate between 3 and 6 million cubic feet of gas (“mmcf”) per day. Sufficient production has now been established to enable both natural gas plants and compressor stations to be fully commissioned.

what is the mmcf ??
are they doing 6mmcf * $10mcf
or 6mcf * $10mcf


 
Re: MAE - Marion Energy

**** now im confused too lol.

I will still go with my calc of $60k per day, but obviously the thousand cubic feet bit is wrong.

Someone with more experience care to step in and stop me embarassing myself?
 
Re: MAE - Marion Energy

mcf: Thousand cubic feet as in one thousand cubic feet of natural gas having an energy value of one million British thermal units. A typical home might use six mcf in a month

mmcf: Million cubic feet as in one million cubic feet of natural gas

I think you are spot on -

1mmcf = 1000mcf
6*1000 = 6000
6000*$10 = $60,000
 
Re: MAE - Marion Energy

well i am taking the plunge and picking up a parcel of mae.. i havent held since the last big run where i pulled out thinking it was to hot.. at least i know that when they get interest they get interest !

with reasonable $$ now coming in this has to get re-rated soon.. i know that it was on the watch lists of intersuisse patterson hartleys and some others so hopefully the 10% jump on friday might have caught some attention..
 
Re: MAE - Marion Energy

Well marion is holding reasonable well considering the rest of the market.. looking forward to an announcement regarding a ramp up of production shortly.. hopefully on a more positive day..
 
Re: MAE - Marion Energy

Looking very positive today .. I think a break out is on the cards has jumped up 10% to 88c this afternoon breaking through resistance at 80c and sellers are drying up.. 1,000,000 on the buy side 176,000 on the sell ..

... Please lets have a good day tomorrow !!!!!!!!!!
 
Re: MAE - Marion Energy

As expected strong open sitting at a $1.005 up another 14% ..
still 1,000,000 on buy side 100,000 on sell.. I wouldnt be suprised to see an institution taking a stake here and a broker upgrade coming out very shortly.. alternatively a real ramp up in production..
 
Re: MAE - Marion Energy

looks like there will be some resistance at around $1.05 but if we can clear this I think mae might go off the hook ... I am topping up with intention of holding my current stake and taking another with the hope to make 20% on todays buy...
 
Re: MAE - Marion Energy

Im still suprised the lack of mainstream interest in this stock its up over 30% in weeks and nobody here seems to be in it.

I actually only hold MAE loaded up at sub 70's in the last few weeks. Undoubtedly they are now heading in the right direction and the fundamental upside is still HUGE!

I still think we could see a buyout for $2.50 + per share in the next 6 months.
We just need the good news to keep flowing.
The big one will be increase in reserves
 
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